Lower-of-Cost-or-Market Inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory Item Inventory Quantity 39 Cost per Unit Market Value per Unit (Net Realizable Value) Birch $221 $214 Cypress 44 179 191 Mountain Ash 31 290 271 Spruce 27 104 123 Willow 24 229 219 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total LCM Birch Cypress Mountain Ash Spruce Willow Total